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Student Debt Crisis – A Generation Buried in Student Debt Student debt insolvencies on the rise Student debt in Canada is in a crisis. We say this because we see the negative consequences of more and more young people taking on student loans, in higher amounts. In 2018, student debt contributed to more than 1 in 6 (17.6%) insolvencies in Ontario 1 , a record rate since we began our study nine years ago. Extrapolate this Canada-wide, and that means that roughly 22,000 ex-students filed insolvency in 2018 to deal with their student debt. That may not seem like a lot but put in perspective with the number of student loan borrowers in relation to the overall population, the young age of these borrowers, and the relative health of the economy in recent years, and it is an epidemic. In thi...